After Yesterday's Rally of 1.29% Shares Could Potentially Pullback
Pfizer (NYSE:PFE) traded in a range yesterday that spanned from a low of $34.67 to a high of $35.33. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $34.99 on volume of 10.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Over the past year, Pfizer has traded in a range of $28.25 to $36.46 and is now at $35.32, 25% above that low. The 200-day and 50-day moving averages have moved 0.11% lower and 0.90% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of Pfizer on April 5th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $31.17. Since that recommendation, shares of Pfizer have risen 11.8%. We continue to monitor PFE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders Pfizer